#1  
31st December 2015, 02:05 PM
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What is the eligibility to get an Education Loan for a candidate having State Bank of Indian Savings Account since last 7 years? Conditions to apply an Education Loan?


Hello,

Am I eligible to get Bank Education Loan as I have a Savings Bank Account in State Bank of India from the last 7 years? I want to study in Abroad so what conditions are there to get an Education Loan? Can you please let me know the eligibility criteria soon?




  #2  
2nd January 2016, 12:32 AM
palugulavenumadhav
Senior Member+++++
 
Join Date: Dec 2014
Location: Hyderabad
Posts: 3,103
Default Re: What is the eligibility to get an Education Loan for a candidate having State Bank of Indian Savings Account since last 7 years? Conditions to apply an Education Loan?

The minimum eligibility criteria required to avail an education loan is that the candidate must be a citizen of India and the candidate must have secured admission in any of the job oriented professional/ technical courses offered by reputed university.

As you wish to study in abroad, at first you have to secure an admission in the foreign recognized college.

The following are the documents required to submit in bank to avail an education loan:

* College admission letter in which it must include all the fee particulars.

* All academic certificates photocopies.

* Latest 6 months bank statement.

* Address and ID proof.

* Collateral security.

* Passport and VISA.

* GMAT/ GRE/ SAT score card.

As you are maintaining SBI account from past 7 years, you can easily avail an education loan without any stress.
  #3  
2nd January 2016, 07:45 PM
SudeepKumarSaha
Senior Member+++++
 
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: What is the eligibility to get an Education Loan for a candidate having State Bank of Indian Savings Account since last 7 years? Conditions to apply an Education Loan?

There is no such condition concerning the tenure of your account in a bank to avail education loan or get some sort of subsidy. Even the persona who opens account on the day of education loan sanction is also eligible. Conditions are many for which you need to contact the branch to get the detailed norms. The important conditions are :-

- Admission should be done in a recognized and reputed institute.
- Terms and conditions should be followed as per the loan amount.
- Guarantee of repayment to be made after six months of completion of the course or on getting job whichever is earlier.
- You need to comply with the fluctuating rate of interest.
Do you have any question? or have anything to say?



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